March 11, 2008

Bills, bills, bills

This is what I have after paying on two mortgages. I have laid off AMEX by using cash for 90% of my purchases. One property manager, was being pretty prompt for a while, the rent was deposited by the 7th. The other one is usually chronically late.

I cannot wait until one house is sold or Salliemae paid off.

Update on Salliemae~Account information

Next due date:03/16/2009

Monthly payment amount:$288.95

Past due amount:N/A

Late fee(s):N/A

Other charges:N/A

Present amount due:N/A

Pay this amount:N/A

Original principal balance:$41,176.29

Capitalized interest:$2,921.84

Outstanding principal balance:$9,280.96

Accrued interest:$11.57

Total amount outstanding:$9,292.53

I feel good about the amount–especially when you look at where I started from. I began paying my loans in 2002 at 6.5%. In 2002, I also had $7500 left on my car and $8000 credit card debt. I remember opening my SM bill and nearly collapsing. My head was in the sand for years as I deferred the undergrad loans for 5 years (it is where the $2,921 interest capitalization comes in). The undergrad was the cheap part–the bulk came from graduate school circa 2000-01. I would say at least $20-25,000 came from graduate school.

Grand total of non-mortgage debt in 2002: $56,676Grand total of non-mortgage debt in 2008: $9,292.53

I had also maxed out Roth IRAs for the past 8 yrs and contributed to TSP in the last 6 yrs. I used to be so clueless about money and now it is somewhat my passion. I used to fantasize about being rescued by a knight in shining armour. But, he never came…and that is just fine by me.